by Gerhard Engelbrecht | Mar 12, 2021 | Chemicals
Sasol’s spot earnings continue to rise as oil and chemical prices continue to rocket higher. FY21 spot core HEPS are at R27.46 and FY22 spot HEPS are now at R54.51. Refining margins are weak however and diesel cracks have fallen to $3/bbl.Asian ethylene...
by Gerhard Engelbrecht | Mar 10, 2021 | Chemicals
Key themes: The key themes at the conference are the changes facing the chemicals industry. These include the energy transition and decarbonisation, plastic waste and the circular economy as well as electrification of vehicles and the permanent effects of...
by Gerhard Engelbrecht | Mar 4, 2021 | Chemicals
Spot earnings for Sasol continue to rise and core HEPS at spot for FY21 are currently at R26.32/share. Spot HEPS for FY22 are at R47.51/share. While oil prices were slightly lower, refining margins rebounded by14% as refineries in the US shut due to cold...
by Gerhard Engelbrecht | Feb 26, 2021 | Chemicals
We have recently upgraded our estimates for Sasol to reflect higher oil prices (link). Prices continue to move higher however and spot earnings increased forFY21 increased by 12% to R24.90 this week. Spot earnings for FY22 now exceed R40/share.Polymer...
by Gerhard Engelbrecht | Feb 24, 2021 | Chemicals
Earnings upgrades, not as large as they look: We raise our HEPS estimate from R13.55/share to R30.20 to include the reversal of currency and hedge related losses. We increase our core HEPS from R15.73 to R19.72. Our estimate for HEPS for FY22...
by Gerhard Engelbrecht | Feb 19, 2021 | Chemicals
Spot earnings continue to increase as this week oil prices and refining margins increased while the rand remained relatively flat. FY21E spot earnings are at R22.15/share (ex reversal of currency losses) with FY22E spot earnings at R39.60/share.LLDPE and...
